NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO OR WITHIN THE UNITED STATES,
AUSTRALIA, NEW ZEALAND, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE
OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON
TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY
APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT
THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK
MAR").
22 November 2024
Duke Capital
Limited
("Duke
Capital", "Duke" or the "Company")
Result of Retail Offer and
Broker Option
Further to its recent announcement
regarding the Fundraising, the
Company is pleased to announce that the
Retail Offer, made available through the BookBuild Platform, has
now closed and was significantly oversubscribed. As a result, in
consideration of Duke's valued and supportive retail shareholder
base, the Company has chosen to upscale the maximum size of the
Retail Offer to £5.0 million to enable fuller allocation to Retail
Investors. Given the over-subscription, allocation preference has
been given to existing shareholders of the Company.
In addition, the Broker Option
granted to Cavendish and Canaccord has received valid applications
for 4,727,362 Broker Option Shares, representing additional gross
proceeds of £1.3 million.
Accordingly, the Company can confirm
that it has conditionally raised total gross proceeds of £23.5
million pursuant to the Fundraising, comprising the Placing,
Subscription, Retail Offer and Broker Option.
Consequently, conditional on the
passing of the Resolution at the Extraordinary General Meeting, the
Company will issue 85,454,636 New shares comprising 56,836,367
Placing Shares, 4,727,362 Broker Option Shares, 5,709,089
Subscription Shares, and 18,181,818 Retail
Offer Shares.
Admission and Total Voting Rights
Application will be made for the New
Shares to be admitted to trading on AIM ("Admission"). Admission is expected to
take place at 8.00 a.m. on or around 4 December 2024.
The New Shares will, when issued, be
credited as fully paid and will rank pari passu in all respects
with existing Ordinary Shares including the right to receive all
dividends and other distributions declared, made or paid after
their date of issue.
Following Admission, the total
number of Ordinary Shares in the capital of the Company in issue
will be 509,815,773 with each Ordinary Share carrying the right to
one vote. There are no shares held in treasury and therefore,
following Admission, the total number of voting rights in the
Company will be 509,815,773. The above figure may be used by
Shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure, Guidance and Transparency
Rules.
Capitalised terms used in this
announcement have the meaning given to them in the Placing and
Retail Offer announcements dated 14 November 2024, unless otherwise
defined in this announcement.
***ENDS***
For further information, please
visit https://dukecapital.com/ or
contact:
|
Duke Capital Limited
|
Neil Johnson / Charles Cannon
Brookes / Hugo Evans
|
+44 (0) 1481 231 816
|
|
Cavendish Capital Markets Limited
(Nominated Adviser and Joint Broker)
|
Stephen Keys / Callum Davidson /
Michael Johnson
|
+44 (0) 207 220 0500
|
|
|
|
|
|
Canaccord Genuity Limited
(Joint Broker)
|
Adam James / Harry Rees / Sam
Lucas
|
+44 (0) 207 523 8000
|
|
SEC Newgate (Financial
Communications)
|
Elisabeth Cowell / Alice
Cho
|
+ +44 (0) 20 3757 6882
dukecapital@secnewgate.co.uk
|
About Duke Capital
Duke is a leading provider of hybrid
capital solutions for SME business owners in Europe and North
America, combining the best features of both equity and
debt.
Since 2017, Duke has provided unique
long-term financing which eliminates re-financing risk and
necessity for a short-term exit by providing a unique 'corporate
mortgage' while also aligning its returns to grow with the success
of the business.
Duke is focused on generating
attractive risk-adjusted returns for shareholders and has a track
record of achieving this across market cycles. It's three
investment pillars are capital preservation, attractive dividend
yield, and to provide upside upon exits. Duke is listed on
the AIM market under the ticker DUKE and is headquartered in
Guernsey.